Mainstream political groups will continue to dominate in elections to the European Parli ament this week but probably will lose some seats to nationalist and far-right parties, analysts predict. “There is no fear for the solidity of the EU-decision-making system”, said Sven Biscop, director of the Euro pe in the World Program at the Egmont-Royal Institute for International Relations, a think tank based in Brussels. But he urged “those who favor the European project” to not be complacent, as the rise of populist and far-right parties has already become a major concern for the EU and its member states. About 400 million people from theRead More →

sumers and hundreds of thousands of employees, we ask that you im mediately stop this action to increase their tax burden,” the group said. The group’s reasoning echoes an earlier comment from David French, senior vice-president for government relations at the Nat ional Retail Federation, who said, “Saying that China is paying these tariffs doesn’t hold water.” About 99 percent of all shoes sold in the US are imported. Last year alo ne, it imported 2.5 billion pairs, nearly 70 percent of which came from China, ma king the Asian country the largest source for US shoe imports, according to statistics provided by the FDRA.Read More →

Central bank vice-governor voices confidence amid currency volatility The monetary authority vowed to stabilize the renminbi amid escala ted trade tensions, while continuing to push forward financial opening-up and pr otecting overseas investors’ legal rights, said a senior official from the central bank on Sunday. “We have the foundation, confidence and capacity to maintain a stable foreign exchange ma rket in China, and keep the renminbi exchange rate at a reasonably stable equilibrium,” said Pan Gongsheng, vi ce-governor of the People’s Bank of China, the central bank, said in a statement on its website. Before his pledge, the onshore renminbi rate depreciated to 6.9182 perRead More →

 reached 51.6 million tons, with ore and container freight volumes breaking records. Aut horities said that the port’s investment budget for 2019 would reach 48 million euros. Situated at the heart of a triangle between Brussels, London, and P aris, the Port of Dunkerque is the third largest port in France after Port Le Havre and Port Marseille. The port has 18 professional terminals and a logistics park with storage facilities for food, hydrocarbons, chemicals and cereals. Public security authorities have destroyed over 200 cross-re gional criminal networks and more than 400 peer-to-peer lending platforms suspected of i llegal fundraising between the beginning of 2018Read More →

 to sell chips to ZTE, a Chinese multinational telecommunications equipment and systems company, even after imposing huge fines on the company. By so doing, the US has act ually encouraged China to increase investment in its high-tech sector. So, even if China and the US were to strike a de al, China would be prompted to import lower volumes of energy and agricultural products from the US. In macroeconomic terms, the China-US trade dispute has added h uge uncertainties to the US economy and raised the likelihood of recession. Which cou ld thwart the US president’s chances of being re-elected in 2020. And the tradeRead More →

The emerging service sector also grew very fast, Meng said. In April, the information transmission industry, along with software and inform ation technology services, grew 25 percent year-on-year, 17.6 percentage points higher than the national index of services. Online retail sales amounted to 3.04 trillion yuan ($440.2 billion) in the first four m onths, a year-on-year increase of 17.8 percent. Around 17.07 billion parcels were delivered, up 24.8 percent over last year. She said the transformation of traditional industries is speeding up as they combine with information technology. “Through implementing national big data and internet plus strategies, internet, big da ta, and artificial intelligence technologiesRead More →

Praising Tianjin’s efforts and achievements in intelligent sc ience and technology, Liu Chuanzhi, board chairman of Legend Holdings Co Ltd, pred icted the city will make a qualitative leap in two to three years by combining intelligent technologies with manufacturing. Liu, also founder of Chinese computer giant Lenovo, said his company, like Tianjin, considers intelligent technology a new imp etus. Lenovo is working on many intelligent applications and has invested in many high-tech ma nufacturing enterprises. It uses various artificial intelligence-driven algorithms and machine learning to ana lyze the data of its supply chain system, using it to optimize Lenovo’s new intelligent spare parts supplyRead More →

nment debt management and stable economic growth, especially at a time when trade te nsions with the United States have imposed more downward pressure, said economists. More financial resources and investors will be involved in the debt resolution process, said Qiao Baoyun, head of the Acad emy of Public Finance and Public Policy at the Central University of Finance and Economics. The last round of local government debt swaps started in 2015 and ended in August 2018, w hich saw 14.34 trillion yuan ($2.08 trillion) of local government debt being swapped into bonds. Local governments are set to face more debt burden in the nextRead More →

magazine of the Communist Party of China Central Committee. He said more efforts a re needed to implement the proactive fiscal policy and boost efficiency this year. Preventing and defusing local governments’ hidden debt risks is key to controlling major risks, he said. Innovative financial tools will be introduced for debt swaps, and the indebted comp anies will be allowed to choose the same way, under guidance from the local governments, Liu Shangxi, hea d of the Chinese Academy of Fiscal Sciences, the Ministry of Finance’s think tank, told China Daily. “The total amount of hidden debt waiting to be swapped has not yet beenRead More →

hina attaches great importance to innovative development, and it considers new generation artificial intelligence as the driving force for scientific and technolo gical development, industrial optimization and upgrading as well as major productivity improvements while it s trives to achieve high-quality development, President Xi Jinping said on Thursday. Xi made the remark in a congratulatory letter to the World Intelligence Congress, which opened in Tianjin. The president noted that AI is having a significant and far-reaching impact on economic development, social progress and gl obal governance. He expressed hope that participants at this third congress strengthen exchanges, enhance con sensus and step up cooperation toRead More →